Anavex Shoots Up After Positive Topline Data

Shares of Anavex Life Sciences Corp. (NASDAQ: AVXL) shot up by more than 20% in pre-market trading on Friday after the clinical-stage biopharmaceutical company announced positive topline results for oral ANAVEX2-73 (blarcamesine). Anavex2-73 is the company’s Alzheimer’s disease candidate.

The Phase 2b clinical study achieved both the primary and secondary endpoints with statistically significant results. This was a randomized, double-blind, multicenter, placebo-controlled clinical trial with 509 patients enrolled in the study.

Wall Street analysts are bullish about AVXL stock with a Strong Buy consensus rating based on a unanimous four Buys.